Global minimally-invasive surgery devices market size expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 20093.4 Million in 2018 and is Projected to Grow at a CAGR of 9.8% over the forecast period.
The global minimally-invasive surgery devices market is growing at a rapid pace, the major factor influencing the growth of the market include; increasing geriatric population, increasing prevalence of chronic diseases. Chronic disease has been one of the major application of minimally-invasive surgery device.
Chronic diseases and conditions are on the rise worldwide. As said by the World Health Organization (WHO), the amount of the burden of chronic diseases is expected to escalate to 60% by 2020 and 79% of deaths due to these diseases would occur in developing countries. According to a 2016 study published in “The Journal of Pediatrics,” it is observed that among the US population functional constipation and abdominal migraine are the most frequently occurring gastrointestinal disorders in children and adolescents. The occurrence of functional constipation is dominated in females than in males.
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Moreover, as per the Centers for Disease Control and Prevention, in 2015, an estimated 1.3% of the US adults reported being diagnosed with irritable bowel syndrome (IBD) (Either Crohn’s disease or ulcerative colitis). In accordance with the Cancer Research UK, about 1590 new cases of small intestine cancer were reported in the UK in 2015. The incidences of obesity and urological diseases have also increased in recent years. According to WHO, in 2016 over 1.9 billion adults were obese. More than one-third of the adult population in the US has obesity. Additionally, WHO stated that over 50% of the women are reported to have the urinary tract infection at some point in their lives. With the increasing incidences of diseases, the demand for the minimal-invasive procedure is also expected to increase which leads to driving the global minimal-invasive devices market.
Segmentation
The Global Minimally-Invasive Surgery Devices Market has been segmented into type, application and end user.
Based on type, market segmented into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and others.
based on application, the minimally-invasive surgery devices market is segmented into cardiac surgery, gastrointestinal surgery, orthopedic surgery, vascular surgery, gynecological surgery, urological surgery, thoracic surgery, cosmetic surgery, dental surgery, and others.
Based on end user, minimally-invasive surgery devices market segmented into hospitals & clinics, ambulatory surgical centers, and others.
Key Players
Some of the major players operating in the Global Minimally-Invasive Surgery Devices Market are Abbott,
Intuitive Surgical, Inc, Fortimedix Surgical, Siemens Healthcare GmbH, GE Healthcare, Medtronic, Inc, Ethicon, Inc., ArthroCare Corporation, KEBOMED Europe AG, DePuy Synthes, NuVasive, Inc., Biomet, Inc, Norwood Medical, Freudenberg Medical, and others.
Regional Analysis
Geographically the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Geographically, the Americas is anticipated to dominate the global minimally-invasive surgery devices market owing to the presence of a huge patient population, high healthcare expenditure, well-developed technology, and the presence of the leading players. Moreover, increasing government support for the development of the advanced devices and well-developed healthcare sector have provided support for the growth of the minimally-invasive surgery devices market in America. Europe is expected to hold the second largest position in the global minimally-invasive surgery devices market. Asia-Pacific is the fastest growing minimally-invasive surgery devices market owing to the increasing need for better monitoring devices, rapidly improving technology and the presence of a huge patient pool. The Middle East and Africa market for minimally-invasive surgery devices is expected to grow at a steady.
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